refund policy

The iKaaz app supports refund in the event it meets the criteria that have been specified for the relevant use cases. Once the refund is initiated, it may take up to 7 business days from the time the refund was initiated. The refund will be processed and the money will be credited to the same card which was used at the time of the original transaction. In all cases, you will be able to check the status of the refund with our support team with the help of the transaction ID. The refund criteria along for the specific use cases are as follows,

1. Refund within Send Money

If you have sent money to one of your contacts, iKaaz will refund the money to you according to the following scenarios –

  1. a) The receiver / payee has not registered with iKaaz within 3 days of the date from which the transaction has been initiated (OR)

  2. b) The receiver / payee, who is a registered iKaaz user has not specified a Bank account for the money to be credited to within 3 days of the date from which the transaction has been initiated (OR)

  3. c) The receiver / payee has specified an invalid bank account to iKaaz due to which the money transfer to the receiver’s bank failed

It is the responsibility of the receiver / payee to provide correct details for the money to be credited into the bank account. Once the money is credited to the bank account, refunding the amount will follow bank guided procedures.

2. Refund within Quick Payments

If you used any of the quick payment options like mobile recharge, DTH, bill pay etc; refunds will be process –

  1. a) The recharge or the bill payment failed at the operator or service provider at the time of the transaction which resulted in the money being debited

  2. b) The recharge or the bill payment fails the next day after initially being in pending state at the operator or service provider

  3. c) In both these cases, the refund will be initiated and will go through the process specified in the top section of the page.

3. Refund at Merchant Stores

iKaaz supports both partial and full refunds for purchases made at iKaaz enabled merchant stores only if the original transaction was initiated using the iKaaz payment platform. While, the functionality is supported, the refund process & policy is governed by the merchant’s store return / refund policy. If the merchant initiates the refund, it will again go through the process specified in the top section of the page

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